Utegration to Acquire HPC America to promote the Future Direction of Finance and Regulatory Reporting across the Utility and Energy Sectors
Wednesday, October 30, 2019
Company Sees the Opportunity to Dramatically Add Value for Customers and Shape the Future of Regulatory Reporting
SAN DIEGO, Oct. 22, 2019 /PRNewswire/ -- Utegration, LLC and HPC America announced today at the SAP for Utilities conference that they have entered into a definitive agreement under which Utegration intends to acquire HPC America (Heck & Partner Consulting). Together, Utegration and HPC America intend to offer advanced professional services and solutions primarily focused on the utility and energy markets in North America.
Utegration, a leading North American technology consulting and solutions company, has been providing solutions to utilities for over 11 years. Although focused on addressing business needs across the utility, one of Utegration's core competencies is helping utilities address regulatory reporting, asset and lease accounting needs through the Utegration Finance4U(TM) solution.
HPC America was established in 1994 and is the original developer of the "FERC module" still offered by a major global software provider. Since then, HPC has provided consulting services to utility companies around finance, CRM and billing, and work management. HPC has also continued to innovate software, most recently with its HPC DECIPHER® add-on solution, which helps utilities to meet their regulatory reporting obligations faster and with more defensible data.
"Having recently announced the availability of the Utegration Finance4U Property and Lease accounting solution, it is very exciting to announce another significant milestone in our company's history: the intent to acquire HPC America. Increasing our scale will further enable us to provide innovative solutions and alternative offerings to our clients at an accelerated pace. HPC and Utegration share a common reputation for excellence in delivery and customer service and a common culture that balances customer, colleague and shareholder interests," says Bart Thielbar, President and CEO, Utegration.
"This strategic partnership will bring together two firms that have a shared vision focused on delivering industry excellence and advanced solutions that complement leading technology available in the market. The new offering will combine Utegration's award-winning consulting practice, our Finance4U software suite, HPC America's DECIPHER® software solution, and over 35 years of combined consulting experience," says Henry Bailey EVP and Chief Strategy Officer, Utegration.
"We are thrilled to join the Utegration family," states Jerry Cavalieri, CEO of HPC America. "HPC America has had a long and successful history focused on leading technology for utilities ever since our major role in the first ERP implementation of its kind at a U.S. utility in the mid-1990s. We see a bright future together helping customers to make the most of their investments in new ERP technology by modernizing old financial processes, realizing the benefits of continuous accounting, and growing stronger in today's far more stringent regulatory environment."
The transaction is expected to close before the end of the calendar year.
About Utegration:
Utegration is a Houston-based full-service PartnerEdge consulting and solution provider specializing in analytics and SAP technology for the utilities industry. Our industry experts have earned the trust of electric, gas and water utilities across North America with our outcome-driven roadmaps and a track record of flawless implementations. Utegration optimizes new technology for finance, customer management and asset operations to maximize our clients' return on investment, while minimizing risk and complexity. Before you implement new technology, talk to Utegration. See how we can make the future work for you. Learn more at www.utegration.com.
About HPC America:
Celebrating 25 years in business, HPC America is a team of utility industry experts dedicated to SAP Financials--from cost accounting, work management, and regulatory reporting in the back office, to billing and CRM in the front office. Our consulting services and add-on software solutions for utilities on SAP increase accounting transparency, improve front- and back-office efficiency, and, ultimately, strengthen rate case positions. Learn more at www.hpc-america.com.
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SOURCE Utegration, LLC
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